Peirce departure leaves SEC with two Republican commissioners
Image: CointelegraphThe US SEC issued non-binding staff guidance on how securities laws may apply to certain crypto assets and transactions, following CFTC guidance. Hester Peirce announced plans to leave the SEC, which would leave Chairman Paul Atkins and Commissioner Mark Uyeda as its remaining commissioners. Both are Republicans. No successor has been publicly nominated for Peirce's seat or other vacancies. The Senate failed to pass a crypto market structure bill.
Key points
- Hester Peirce announced plans to leave the SEC, reducing its active commissioners to Paul Atkins and Mark Uyeda.
- Both remaining SEC commissioners are Republicans, and the agency is designed for five members.
- No successor has been publicly announced or nominated for Peirce's seat or other vacancies.
- Peirce is expected to join Regent University's law school as an associate professor in November.
- Crypto market structure legislation has not been passed, and Congress is still working on digital asset bills.
Why it matters
Major SEC rulemakings and enforcement actions require commission votes. With two members, a single recusal could prevent the commission from reaching a quorum. Congress has not passed market structure legislation that would require SEC and CFTC coordination.
What's unclear
Who will fill Peirce's SEC seat and other vacant commissioner seats remains unknown.
Sources · 2 publishers
Crypto Briefing
Tier 2
US SEC and CFTC to operate with just three commissioners after Peirce’s departure
Coverage timeline
- First reported by Cointelegraph
- Confirmed by Crypto Briefing
- CryptoVideos brief published
How this brief was made. Our system found this event in 2 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
